================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 25, 1996
SUPERIOR BANK FSB (as depositor under the Pooling and Servicing Agreement, dated
as of June 1, 1996, providing for the issuance of AFC Mortgage Loan Asset Backed
Certificates, Series 1996-2)
SUPERIOR BANK FSB
- ----------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
United States 333-4492 36-1414142
- ---------------------------- ----------- ---------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
One Lincoln Centre
Oakbrook Terrace, Illinois 60181
- -------------------------- ---------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (708) 916-4000
================================================================================
<PAGE>
ITEM 5. OTHER EVENTS
On November 25, 1996 (a "Remittance Date") a scheduled remittance was made
to the Certificateholders with respect to AFC Mortgage Loan Asset Backed
Certificates, Series 1996-2, issued pursuant to a Pooling and Servicing
Agreement, dated as of June 1, 1996, among Superior Band FSB., as Depositor, Lee
Servicing Company, a division of Superior Bank FSB., as Servicer and LaSalle
National Bank, as Trustee. The information contained in the Servicer's Monthly
Remittance Report to the Trustee, which shall be forwarded by the Trustee to the
Certificateholders, is attached hereto as Exhibit 21.1 and is incorporated
herein by reference.
Capitalized terms used herein and not defined shall have the same meanings
ascribed to them in the pooling and Servicing Agreement.
Items 2 through 4 and Items 6 and 8 are not included because they are not
applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
21.1 Monthly Remittance Report for the month of November, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SUPERIOR BANK F.B.
By: /s/ William C. Bracken
------------------------------
Name: William C. Bracken
Title: Executive Vice President
Dated: November , 1996
<PAGE>
EXHIBITS TABLE
21.1 Monthly Remittance Report for the month of November, 1996.
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, a division of SUPERIOR BANK, FSB
Designated Servicer
SERVICER'S CERTIFICATE
1996-2 Sub-Pool 1
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 1, 1996 Lee Servicing Company reports the following
information pertaining to Series 1996-2 Sub-Pool 1 for November 25, 1996, the
Remittance date.
Due period ended: November 1, 1996
- --------------------------------------------------------------------------------
1 Total Actual Principal Collections 1,035,126.12
2 Total Actual Interest Collections 1,322,121.28
3 Additional Proceeds 0.00
------------
4 Aggregate Amount Received: 2,357,247.40
Monthly Advances
5 Delinquent Interest (7,982.28)
6 Compensating Interest 2,607.00
7 Amounts Held for Future Distributions 0.00
------------
8 Available Remittance Amount: 2,351,872.12
9 Less: Service Fees 76,448.70
10 Expense Account Deposit 3,385.87
11 Plus: Cross Collateral Deposit 0.00
------------
12 Adjusted Remittance Amount: 2,272,037.55
Remaining Amount Available:
13 Adjusted Remittance Amount 2,272,037.55
14 Insured Payments 0.00
15 Insurance Account Deposit @ 13 bp
the Ending Principal balance 15,080.10
16 Cross Collateral Withdrawal 0.00
17 Class Remittance Amounts 2,256,957.45
18 Non-Recoverable Advances not
Previously Reimbursed 0.00
------------
19 Total Remaining Amount Available: 0.00
============
Amount of Reimbursements Pursuant to Sec. 5.04
20 Servicing Fee 0.00
21 Monthly Advances and Servicer Advances 0.00
22 Other Mortgage Payments 0.00
23 Interest Earned on P&I Deposits 0.00
24 Additional Servicing Compensation 0.00
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1 OF 4
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, a division of SUPERIOR BANK, FSB
Designated Servicer
SERVICER'S CERTIFICATE
1996-2 Sub-Pool 1
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 1, 1996 Lee Servicing Company reports the following
information pertaining to Series 1996-2 Sub-Pool 1 for November 25, 1996, the
Remittance date.
Due period ended: November 1, 1996
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Total Class A-1 Class A-2 Class A-3 Class A4
----- --------- --------- --------- --------
<S> <C> <C> <C> <C> <C>
25 Loans Outstanding -- BOM 2234
26 Opening Principal Loan Balance 140,236,025.30 60,074,095.85 10,147,079.68 24,352,991.22 9,132,371.71
27 Additional Principal Reduction, LTD 3,766,180.46 2,587,554.66 149,193.14 358,063.53 134,273.83
28 Realized losses, LTD 0.00 0.00 0.00 0.00 0.00
29 Carryforward Amount 0.00 0.00 0.00 0.00 0.00
-------------- ------------- ------------- ------------- ------------
30 Total Class Principal 136,469,844.84 57,486,541.19 9,997,886.54 23,994,927.69 8,998,097.88
31 Class Factor per Loan Balance 98.0671505% 42.0098572% 7.0958599% 17.0300638% 6.3862739%
32 Class Factor per Class Balance 95.4334579% 40.2003785% 6.9915290% 16.7796697% 6.2923761%
33 Excess Spread 0.00
34 Cross Collateral Deposit 0.00 0.00
35 Cross Collateral Withdrawal 0.00
36 Additional Principal due Class A 436,569.82 436,569.82
37 Interest Remittance @ Class Yield 785,261.51 271,520.11 61,237.06 151,767.92 58,037.73
Principal Reductions:
38 Prepayments -- Number 21 21
39 Prepayments -- Dollar 904,444.22 904,444.22 0.00 0.00 0.00
40 Net Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00
41 Curtailments 0.00 0.00 0.00 0.00 0.00
42 Normal and Excess Payments 130,681.90 130,681.90 0.00 0.00 0.00
-------------- ------------- ------------- ------------- ------------
43 Total Principal Remittance 1,035,126.12 1,035,126.12 0.00 0.00 0.00
44 Additional Principal Reduction 436,569.82 436,569.82 0.00 0.00 0.00
-------------- ------------- ------------- ------------- ------------
45 Total Remittance 2,256,957.45 1,743,216.05 61,237.06 151,767.92 58,037.73
============== ============= ============= ============= ============
46 Current Month Realized Loss -- Number 0 0
47 Current Month Realized Loss -- Dollar 0.00 0.00
Class Principal Balance -- EOM
48 Loans Outstanding -- EOM 2213
49 Closing Loan Balance 139,200,899.18 59,038,969.73 10,147,079.68 24,352,991.22 9,132,371.71
50 Additional Principal Reduction, LTD 4,202,750.28 3,024,124.48 149,193.14 358,063.53 134,273.83
51 Realized Losses, LTD 0.00 0.00 0.00 0.00 0.00
52 Carryforward Amount 0.00 0.00 0.00 0.00 0.00
-------------- ------------- ------------- ------------- ------------
53 Total Class Principal Balance 134,998,148.90 56,014,845.25 9,997,886.54 23,994,927.69 8,998,097.88
54 Class Factor per Loan Balance 97.3432861% 41.2859928% 7.0958599% 17.0300638% 6.3862739%
55 Class Factor per Class Balance 94.4042999% 39.1712205% 6.9915291% 16.7796697% 6.2923761%
<CAPTION>
<S> <C> <C> <C>
25 Loans Outstanding -- BOM
26 Opening Principal Loan Balance 25,367,699.20 11,161,787.64
27 Additional Principal Reduction, LTD 372,982.85 164,112.45
28 Realized losses, LTD 0.00 0.00
29 Carryforward Amount 0.00 0.00
------------- --------------
30 Total Class Principal 24,994,716.35 10,997,675.19
31 Class Factor per Loan Balance 17.7396498% 7.8054459%
32 Class Factor per Class Balance 17.4788226% 7.6906820%
33 Excess Spread 0.00
34 Cross Collateral Deposit
35 Cross Collateral Withdrawal 0.00
36 Additional Principal due Class A
37 Interest Remittance @ Class Yield 166,631.44 76,067.25
Principal Reductions:
38 Prepayments -- Number
39 Prepayments -- Dollar 0.00 0.00
40 Net Liquidation Proceeds 0.00 0.00
41 Curtailments 0.00 0.00
42 Normal and Excess Payments 0.00 0.00
-------------- --------------
43 Total Principal Remittance 0.00 0.00
44 Additional Principal Reduction 0.00 0.00
-------------- --------------
45 Total Remittance 166,631.44 76,067.25 0.00
============== ============== ====
46 Current Month Realized Loss -- Number
47 Current Month Realized Loss -- Dollar
Class Principal Balance -- EOM
48 Loans Outstanding -- EOM
49 Closing Loan Balance 25,367,699.20 11,161,787.64
50 Additional Principal Reduction, LTD 372,982.85 164,112.45
51 Realized Losses, LTD 0.00 0.00
52 Carryforward Amount 0.00 0.00
------------- -------------
53 Total Class Principal Balance 24,994,716.35 10,997,675.19
54 Class Factor per Loan Balance 17.7396498% 7.8054459%
55 Class Factor per Class Balance 17.4788226% 7.6906820%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
2 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, a division of SUPERIOR BANK, FSB
Designated Servicer
SERVICER'S CERTIFICATE
1996-2 Sub-Pool 1
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 1, 1996 Lee Servicing Company reports the following
information pertaining to Series 1996-2 Sub-Pool 1 for November 25, 1996, the
Remittance date.
Due period ended: November 1, 1996
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Total Class A-1 Class A-2 Class A-3 Class A4
----- --------- --------- --------- --------
<S> <C> <C> <C> <C> <C>
56 Weighted Note Rate - THIS Remittance 11.26310%
57 Weighted Note Rate - NEXT Remittance 11.25792%
58 Related Remittance Period for Libor Rate 25-Oct-96 thru 24-Nov-96
59 Days in Related Period 31
60 Pass-Through Rate - THIS Remittance 5.48500% 7.350% 7.590% 7.740%
61 Weighted Average Remaining Term 217.16
62 Original Pool - Principal Balance 91,623,068.53 41,006,128.57 6,407,207.59 15,377,298.21 5,766,486.83
63 Original Pool - Pre-Funding Account 53,510,393.37 23,948,707.52 3,741,985.55 8,980,765.32 3,367,787.00
64 Original Pool - Additonal Principal
Reduction 2,133,461.89 954,836.09 149,193.14 358,063.53 134,273.83
------------- ------------- ------------ ------------- ------------
65 Original Pool Total 143,000,000.00 64,000,000.00 10,000,000.00 24,000,000.00 9,000,000.00
<CAPTION>
Class A5 Class A6
-------- --------
56 Weighted Note Rate - THIS Remittance
57 Weighted Note Rate - NEXT Remittance
58 Related Remittance Period for Libor Rate
59 Days in Related Period
60 Pass-Through Rate - THIS Remittance 8.000% 8.300%
61 Weighted Average Remaining Term
62 Original Pool - Principal Balance 16,018,018.97 7,047,928.35
63 Original Pool - Pre-Funding Account 9,354,963.88 4,116,184.10
64 Original Pool - Additonal Principal
Reduction 372,982.85 164,112.45
------------- -------------
65 Original Pool Total 25,000,000.00 11,000,000.00
66 Original Pool - Number of Loans 864
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A Overcollateralization Reconciliation
-------------------------------------------- Beg.of Month Current Month End of Month
------------ ------------- ------------
<S> <C> <C> <C>
67 Additional Principal Reduction, LTD 3,766,180.46 436,569.82 4,202,750.28
68 Cross Collateral Deposits, LTD 0.00 0.00 0.00
69 Less: Realized Losses, LTD 0.00 0.00 0.00
------------ ---------- ------------
70 Overcollateralization of Principal 3,766,180.46 436,569.82 4,202,750.28
============ ========== ============
71 Base Overcollateralization Required 7,430,833.00
72 Required Overcollateralization Amount 7,430,833.00
Current Month Subordinated Amount Beg.of Month Current Month End of Month
-------------------------------- ------------ ------------- ------------
73 Original Subordinated Amount 14,745,560.00 N/A 14,745,560.00
74 Less: Cumulative Realized Losses 0.00 0.00 0.00
75 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
------------ ---------- ------------
76 Current Subordinated Amount 14,745,560.00 14,745,560.00
============= =============
Nonrecoverable Advance Reconciliation
-------------------------------------
77 Beginning of Month 0.00
78 Current Month Nonrecoverable Advance 0.00
79 Less: Current Month Reimbursment 0.00
----------
80 End of Month 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
3 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, a division of SUPERIOR BANK, FSB
Designated Servicer
SERVICER'S CERTIFICATE
1996-2 Sub-Pool 1
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 1, 1996 Lee Servicing Company reports the following
information pertaining to Series 1996-2 Sub-Pool 1 for November 25, 1996, the
Remittance date.
Due period ended: November 1, 1996
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Class Class Class Class
A1 A2 A3 A4
----- ----- ----- -----
<S> <C> <C> <C> <C> <C>
81 Total Class Principal - Original Pool $143,000,000.00 $64,000,000.00 $10,000,000.00 $24,000,000.00 $9,000,000.00
82 Interest Remittance Amount 785,261.51 271,520.11 61,237.06 151,767.92 58,037.73
83 Interest Rate Factor / 1000 5.491339 4.242502 6.123706 6.323663 6.448637
84 Total Principal Collections 1,035,126.12 1,035,126.12 0.00 0.00 0.00
85 Additional Principal Reduction 436,569.82 436,569.82 0.00 0.00 0.00
--------------- -------------- -------------- -------------- -------------
86 Principal Remittance Amount 1,471,695.94 1,471,695.94 0.00 0.00 0.00
87 Principal Payment Factor/1000 10.291580 22.995249 0.000000 0.000000 0.000000
88 Current Month Ending Principal Factor 944.042999 875.231956 999.788654 999.788654 999.788654
89 Prior Month Ending Principal Factor 954.334579 898.227205 999.788654 999.788654 999.788654
<CAPTION>
Class Class
A5 A6
----- -----
81 Total Class Principal - Original Pool $25,000,000.00 $11,000,000.00
82 Interest Remittance Amount 166,631.44 76,067.25
83 Interest Rate Factor / 1000 6.665258 6.915205
84 Total Principal Collections 0.00 0.00
85 Additional Principal Reduction 0.00 0.00
-------------- -------------
86 Principal Remittance Amount 0.00 0.00
87 Principal Payment Factor/1000 0.000000 0.000000
88 Current Month Ending Principal Factor 999.788654 999.788654
89 Prior Month Ending Principal Factor 999.788654 999.788654
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
4 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
1996-2 SUB POOL 2
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 01, 1996 and the Insurance Agreement dated as of June 19, 1996,
Lee Servicing Company reports the following
Information pertaining to series 1996-2 Sub Pool 2 for November 25, 1996, the
Remittance date.
Period Ended: November 1, 1996
- --------------------------------------------------------------------------------
1 Total Actual Principal Collections 1,507,571.01
2 Total Actual Interest Collections 645,070.48
3 Additional Proceeds 0.00
------------
4 Aggregate Amount Received: 2,152,641.49
Monthly Advance
5 Delinquent Interest 13,935.47
6 Compensating Interest 6,869.54
7 Amounts Held for Future Distributions 0.00
8 Supplemental Interest 0.00
------------
9 Available Remittance Amount: 2,173,446.50
10 Less: Service Fees 42,715.82
11 Expense Account Deposit 1,899.00
------------
12 Plus: Cross Collateral Deposit 0.00
13 Adjusted Remittance Amount: 2,128,831.68
Remaining Amount Available:
14 Adjusted Remittance Amount 2,128,831.68
15 Insured Payments 0.00
16 Insurance Account Deposit @ 13bp
on the Ending Class A P-balance 8,611.02
17 Cross Collateral Withdrawal 0.00
18 Class Remittance Amounts 2,120,220.66
19 Non-Recoverable Advances not
Previously Reimbursed 0.00
------------
20 Total Remaining Amount Available: 0.00
============
Amount of Reimbursements Pursuant to Sec. 5.04
21 Servicing Fee 0.00
22 Monthly Advances and Servicer Advances 0.00
23 Other Mortgage Payments 0.00
24 Interest Earned on P&I Deposits 0.00
25 Additional Servicing Compensation 0.00
- --------------------------------------------------------------------------------
1 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
1996-2 SUB POOL 2
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 01, 1996 and the Insurance Agreement dated as of June 19, 1996,
Lee Servicing Company reports the following
Information pertaining to series 1996-2 Sub Pool 2 for November 25, 1996, the
Remittance date.
Period Ended: November 1, 1996
- ---------------------------------------------------------------------------------------------------------
Total Class 2-A Class R
----- --------- -------
<S> <C> <C> <C>
26 Loans Outstanding - BOM 670
27 Opening Principal Loan Balance 80,993,894.76 80,993,894.76
28 Additional Principal Reduction, LTD 3,526,424.97 3,526,424.97
29 Realized Losses, LTD 0.00 0.00
30 Carryforward Amount 0.00 0.00
---------------------------------
31 Total Class Principal 77,467,469.79 77,467,469.79
32 Class Factor per Loan Balance 98.7730424% 98.7730424%
33 Class Factor per Class Balance 94.4725241% 94.4725241%
34 Excess Spread 0.00 0.00
35 Cross Collateral Deposit 0.00 0.00
36 Cross Collateral Withdrawal 0.00 0.00
37 Additional Principal due Class A 232,079.95 232,079.95
38 Interest Remittance @ Class Yield 380,569.70 380,569.70
Principal Reductions:
39 Prepayments - Number 11 11
40 Prepayments - Dollar 1,464,104.14 1,464,104.14
41 Net Liquidation Proceeds 0.00 0.00
42 Curtailments 0.00 0.00
43 Normal and Excess Payments 43,466.87 43,466.87
--------------------------------------------------
44 Total Principal Remittance 1,507,571.01 1,507,571.01
45 Additional Principal Reduction 232,079.95 232,079.95
--------------------------------------------------
46 Total Remittance 2,120,220.66 2,120,220.66 0.00
==================================================
47 Carryforward Amount 0.00
48 Current Month Realized Loss - Number 0 0
49 Current Month Realized Loss - Dollar 0.00 0.00
Class Principal Balance - EOM
50 Loans Outstanding - EOM # 659
51 Closing Loan Balance 79,486,323.75 79,486,323.75
52 Additional Principal Reduction, LTD 3,758,504.92 3,758,504.92
3 Realized Losses, LTD 0.00 0.00
54 Carryforward Amount 0.00 0.00
---------------------------------
55 Total Class Principal Balance 75,727,818.83 75,727,818.83
56 Class Factor per Loan Balance 96.9345412% 96.9345412%
57 Class Factor per Class Balance 92.3509986% 92.3509986%
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 4
<PAGE>
<TABLE>
<CAPTION>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
1996-2 SUB POOL 2
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 01, 1996 and the Insurance Agreement dated as of June 19, 1996,
Lee Servicing Company reports the following
Information pertaining to series 1996-2 Sub Pool 2 for November 25, 1996, the
Remittance date.
Period Ended: November 1, 1996
- ---------------------------------------------------------------------------------------------------------
Total Class A1
----- --------
<S> <C> <C> <C>
58 Weighted Note Rate This Remittance: 9.88353%
59 Weighted Note Rate Next Remittance: 10.37118%
60 Related Remittance Period for Libor Rate 25-Oct-96 thru 24-Nov-96
61 Days in Related Period: 31
62 Pass-Through Rate: 5.70500% 5.70500%
63 Weighted Average Remaining Term 353.85
64 Original Pool - Principal Balance 53,157,223.06 53,157,223.06
65 Original Pool - Pre-Funding Account 31,641,122.34 31,641,122.34
66 Original Pool - Additional Principal Reduction 2,798,345.40 2,798,345.40
---------------------------------
67 Original Pool Total 82,000,000.00 82,000,000.00
68 Original Pool - Number of Loans 441
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
Class A Overcollateralization Reconciliation
-------------------------------------------- Beginning of Month Current Month End of Month
--------------------------------------------------------
<S> <C> <C> <C>
69 Additional Principal Reduction, LTD 3,526,424.97 232,079.95 3,758,504.92
70 Cross Collateral Deposits, LTD 0.00 0.00 0.00
71 Less: Realized Losses, LTD 0.00 0.00 0.00
-----------------------------------------------------
72 Overcollateralization of Principal 3,526,424.97 232,079.95 3,758,504.92
=====================================================
73 Base Overcollateralization Requirement 4,027,921.00
74 Required Overcollateralization Requirement 4,027,921.00
Current Month Subordinated Amount Beginning of Month Current Month End of Month
--------------------------------- --------------------------------------------------------
75 Original Subordinated Amount 9,327,818.00 N/A 9,327,818.00
76 Less: Cumulative Realized Losses 0.00 0.00 0.00
77 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
-----------------------------------------------------
78 Current Subordinated Amount 9,327,818.00 9,327,818.00
=====================================================
Nonrecoverable Advance Reconciliation
-------------------------------------
79 Beginning of Month 0.00
80 Current Month Unpaid Nonrecoverable Advance 0.00
81 Less: Current Month Reimbursment 0.00
------------
82 End of Month 0.00
============
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
by LEE SERVICING COMPANY, A division of SUPERIOR BANK FSB,
Designated Servicer
SERVICERS CERTIFICATE
1996-2 SUB POOL 2
In accordance with section 6.08 of the Pooling and Servicing Agreement
dated as of June 01, 1996 and the Insurance Agreement dated as of June 19, 1996,
Lee Servicing Company reports the following
Information pertaining to series 1996-2 Sub Pool 2 for November 25, 1996, the
Remittance date.
Period Ended: November 1, 1996
- -------------------------------------------------------------------------------
Class
Total A1
----------------------------------
83 Total Class Principal - Original Pool $82,000,000.00 $82,000,000.00
84 Interest Remittance Amount 380,569.70 380,569.70
85 Interest Rate Factor / 1000 4.641094 4.641094
86 Total Principal Collections 1,507,571.01 1,507,571.01
87 Additional Principal Reduction 232,079.95 232,079.95
----------------------------------
88 Principal Remittance Amount 1,739,650.96 1,739,650.96
89 Principal Payment Factor/1000 21.215256 21.215256
90 Principal Factor 923.509985 923.509985
91 Prior Month Principal Factor 944.725241 944.725241
- -------------------------------------------------------------------------------
Page 4 of 4
